CapitaLand delays launch of Marine Parade project

With the housing market badly hit by the government’s Total Debt Servicing Ratio (TDSR) ruling, property heavyweight CapitaLand has pushed back the launch of its condominium project in Marine Parade which was originally planned for late 2013, media reports said. Speaking at the group’s results briefing this week, Wong Heang Fine, Chief Executive of CapitaLand Residential Singapore, said: “For Marine Parade, we have started construction. We decided to delay the launch to this year... Last year the TDSR came out in June, so we want to watch the response.” In April last year, the developer announced plans to launch the unnamed project in Marine Parade in the later part of 2013. Comprising 124 units, the mid-tier project is located close to Parkway Parade. Singapore developers have been struggling with the slowing residential market after the government’s loan curbs affected p...